On April 8, 2021 on Multi Commodity Exchange (MCX), gold prices were modestly Rs. 46358 per 10 grams.
On Wednesday, gold reached an all-time high of Rs. Beyond the US dollar level of 46344 for several reasons, including depreciation of the rupee, return to US Treasury yields and an increase in coronovirus cases for the third day, which crossed the 100,000 new cases mark.
Gold prices also fell in international markets after the US Federal Reserve insisted on continuing its policy support measures in the latest minutes. Gold spot fell 0.03% to close at $ 1,736.76 an ounce at 0149 GMT.
The Indian stock market is trading at a high level on Thursday amid widespread purchases of sector-wise indices following the Reserve Bank of India’s policy result. The Sensex was up over 50,000, or 355 points. The Nifty 50 trade is over 14,925 during the afternoon session.
The improvement in the global economic outlook led to an increase in the price of crude oil, however, the gains were held up due to rising discoveries of gasoline.